I recently purchased a 95 740i that was running terrible but in good shape so i scooped it up for a good price. After much consideration and purchasing a peake reader i decided to gut the catalytic converters. The car ran great but was pooring oil from the valve covers so i changed the gaskets and grommets. After finding all the sludge in the motor? Inches! Wow! I decided to flush the motor. I ran some engine flush through the motor. Then some used sythetic from the x3 with some kerosene. Then fresh synthetic with some "STOP" Engine restore mixed in. Now the problem arose after i ran the car SMOKE SHOW SMOKE SHOW!!!! Wow i think i showed the mosquito contol guy how to smoke the neighberhood. It was smoking pretty good when i ran the kerosene thru it but it seems to be getting worse. If i need to replace the valve seals in this car it is worthless to me. The questions i guess are how about some straight 30 weight oil and or maby this osv valve that everyone is talking about but they seem to say that the osv valve failure causes a puff at start. My car puffs at start, idles very rough, and smokes out my neighborhood when i drive down the road. Not very cool. Any insight would be appreciated.

Get it running and see if there a change in the idle when you pull the oil dipstick(and a slurping noise from the tube).
Also check for intake manifold and ducting vacuum leaks.
Was it smoking this badly before you ran the cleaning process through the engine?